After the Tripoli government announced that it had granted the Ministry of Economy and Trade the authority of Judicial Officers to carry out its duties in accordance with the provisions of the Commercial Activity Law No. (23) of 2010, the Ministry of Economy and Trade announced the suspension of commercial activity for (27) companies.
The Ministry said this comes as part of a review of the status of companies benefiting from letters of credit and to verify their compliance with the regulations and procedures governing foreign trade.
The Ministry: According to the decision, the total value of the letters of credit under review amounted to approximately US$ 146.7 million, obtained by the companies concerned during the first seven months of 2026 to finance imports and various economic activities.
These letters of credit were distributed among three main beneficiaries, identified only by their initials as follows:
- (E.A.A.): Letters of credit worth approximately US$79.0 million.
- (H.I.A.): Letters of credit worth approximately US$52.2 million.
- (A.A.A.): Letters of credit worth approximately US$15.5 million.
The Ministry: The decision included suspending the commercial registration, importers' register, and licenses of companies associated with the aforementioned beneficiaries, pending completion of the examination and review process by the competent authorities.
The Ministry: affirms that these measures are part of enhancing transparency and governance, and monitoring the movement of letters of credit granted to companies, ensuring the integrity of procedures and protecting the national economy from any practices that may harm fair competition or affect the efficiency of foreign trade.
The Ministry: emphasizes that the decision represents a precautionary and regulatory measure aimed at completing the verification of data and legal obligations of the companies covered by the decision, and that the final results will be announced after the completion of the review and audit process by the competent authorities, within the framework of the state's efforts to enhance compliance and improve the efficiency of oversight of trade and import activities.